Which of the lists below shows accounts that would be closed at the end of the fiscal period?

A) Sales, Accounts Payable, Dividends, and Inventory
B) Cost of Goods Sold, Supplies, Wages Payable, and Dividends
C) Retained Earnings, Depreciation Expense, Notes Payable, Store Supplies
D) Sales, Cost of Goods Sold, Supplies Expense, and Wages Expense

Fiscal Period

A specific duration of time used for accounting purposes, such as a month, quarter, or year, over which financial records are kept.

Accounts Payable

Liabilities owed by a business to its suppliers or vendors for goods and services purchased on credit.

Dividends

Portions of a company's earnings paid out to shareholders as a reward for their investment.